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7 Tips for Making Money with Fiverr

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If you are not already aware, Fiverr dubs itself,

The marketplace for creative and professional services.

As the name implies, all services offered on Fiverr start at just $5.

It is a popular platform for new freelancers, students, and those seeking some part-time earnings.

Whether you are already a freelancer or you are thinking of starting, Fiverr can result in a number of positive benefits to your freelancing business. For instance, a number of clients that I currently provide regular monthly services to initially found me on Fiverr.

In other words, Fiverr can be a great source of finding new prospects for your primary freelancing services. Think of it as getting paid to acquireleads.

Although it is unlikely that Fiverr will ever be a full-time source of income for you, it can supplement your existing freelancing efforts. This can be especially important when you’re new and just starting out.

What I have put together here are seven tips to make more money on Fiverr

…and although I am no longer as active on Fiverr as I once was, I will reference several gigs I used to offer a year ago.

(1) Only Offer Gigs That Can Be Completed Quickly

To begin, Fiverr takes a 20 percent fee off the top of any sales you make. That means a $5 gig earns you $4. Even worse, Fiverr charges $1 every time you withdraw the balance of your account.

If you want to make more money on Fiverr, only offer gigs that you can complete in a relatively short amount of time. Some examples that I used to offer include:

  • I will professionally capture audio or video from YouTube for $5
  • I will leave 5 positive comments on your blog or videos for $5
  • I will create a custom internet meme for you for $5

Each of these gigs I could complete in 5-10 minutes or less. It was perfectly reasonable that I could complete up to a dozen of these jobs in an hour, earning me — at the minimum — $48. This is a fairly reasonable payout for an hour of work, and I could choose when to do this hour of work between other projects I had going on.

If you want to make more money on Fiverr, you cannot be working for an hour or two to only make $4.

(2) Create Multiple Iterations of the Same Gig

Once you have created a gig that you can quickly complete, watch to see if it seems to be selling well. If so, consider scaling your efforts by creating multiple gigs that, well, offer pretty much the same service.

Here is an example from a popular Fiverr seller, kymmypops:

kymmypops[1]

She offers:

  • I will record a video as a geek girl
  • I will be your British website spokesperson
  • I will record a natural looking video testimonial
  • I will record a BRITISH video review

Those gigs are all basically the same idea. For $5, she will record 50 words of dialog in front of a webcam for you.

But because different buyers search for different keywords, she is smart to create separate gigs. For example, I may want a spokesperson for my website, but it may not occur to me that a seller who offers video testimonials could do the same thing.

(3) Offer an Incentive for Repeat Orders

One of the gigs I used to offer on Fiverr was:

  • I will write 5 posts for your Facebook page for $5

When I delivered the five posts, I would tell the buyer that on their next order, I would include six posts instead of five for the same price.

A similar idea could be applied to just about any gig. For instance, if you normally offer a 100-word product description for $5, offer a 120-wordproduct description on repeat orders.

If you normally offer five blog post comments, offer six or seven for repeat orders.

This encourages repeat business, which not only allows you to make more money on Fiverr — it also favors your gig in the search results. The algorithm seems to lean towards gigs that have a higher volume of repeat purchases.

It also a good idea when delivering a gig to ask the buyer for a 5-star rating and some positive feedback. Just like repeat business, Fiverr also favors highly rated gigs in search results.

(4) Make Efficient Use of Gig Extras & Increased Quantities

As your seller level increases in Fiverr, you will have the ability to offer gig extras and more expensive gig extras. It is a good idea to take advantage of these gig extras to boost your earnings on some sales. For example, you could sell any number of these gig extras if you offer a video testimonial service:

  • I will record and deliver your video in 1080p HD (+ $10)
  • I will record your video in your choice of household location (+ $10)
  • I will wear a custom outfit when I record your video (+ $20)
  • I will speak in your choice of accent when I record your video (+ $5)
  • I will deliver your completed video in just 24 hours (+ $40)

You get the idea.

I recommend only offering extras that will not increase the amount of time it takes to complete the gig by very much. So what starts out as a $5 gig becomes a $50 gig, without much — if any — additional time required.

If you do not have the ability yet to officially offer gig extras, or you have reached the limit of gig extras you are allowed to offer, you can work around it by making use of gig quantities. For instance, if you want to offer a $10 gig extra, you can simply ask the prospective buyer to purchasethree gigs for a total of $15.

(5) Keep Your Response Time Low & Make Custom Offers

As mentioned, Fiverr uses a complex algorithm to rank your gig when displaying search results. One of the factors taken into consideration is your response time. Many prospective buyers will reach out with questions prior to purchasing. Even if you only plan to complete your Fiverr gigs once or twice per week, it is a good idea to reply to your messages daily.

When you do so, consider making use of the custom offers functionality. Depending upon the scope of the job a buyer wants completed, it might be easier to send a custom offer than to recommend a particular gig you sell.

send-a-custom-offer[1]

A custom offer allows you to set a description of the job that needs to be completed, how long it will take you to do so, and how much the buyer needs to pay for it.

Remember, when creating your custom offer, Fiverr will still take their 20 percent fee off the top… so set your price accordingly!

(6) Share Your Gigs as Often as Possible

If freelancing is a regular part of your business, it is a good idea to share your gigs on social media:

share-on-twitter[1]

The benefit is twofold.

For starters, one of your followers may be in need of a service you offer.

The second benefit is that Fiverr seems to favor gigs in their search results that are regularly shared on social media. This is a simple way tomake more money on Fiverr.

(7) Avoid Negative Reviews, Late Deliveries & Canceled Orders

Although this might seem like common sense, you need to avoid negative reviews, late deliveries, and canceled orders. Each of these scenarios may result in a penalty to your rank in the search results on Fiverr, as well as your seller level.

Avoid negative reviews by clearly communicating with your buyer, asking questions before completing the work, and stressing the importance of a 5-star review at the time of delivery. Try to deliver more than your gig advertised, if possible.

Avoid late deliveries by setting a realistic completion time in each new gig you create. For instance, I generally never set a gig completion time below four days. That way, I could plan to clear out my queue of Fiverr gigs every Monday and Thursday. Fiverr gigs just became a regular part of my schedule.

Avoid canceled orders by clearly explaining your gig with a video introduction, in the text description, and the title. And be accommodating with all buyers, even though they may not always be so accommodating with you.

After all, if you want to make more money on Fiverr, your reputation as a dependable seller will go a long way.

 

Source: http://brentjonesonline.com/blog/freelancing/7-tips-to-make-more-money-on-fiverr/

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